by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Expat Investor : March 2008
March 2008 EXPAT INVESTOR 21 PROPERTY INVESTMENT Mortgage Solutions! And we offer the reassurance of UK regulated advice, so you know you are in safe hands. Visit WWW.Offshoreonline.ORG. Your home may be repossessed if you do not keep up repayments on it. Our fee for mortgage advice depends upon your circumstances. We estimate it will be £335. Click on our mortgage quote facility on WWW.Offshoreonline.ORG. Offshoreonline.ORG's expatriate fast track mortgage service means not only a fast quote but also a fast offer emailed directly to you. We can help you if you are looking to buy a new home in the UK, remortgage your old to reduce borrowing costs or if you want to start a diversified buy to let portfolio in the UK. We are not tied to any single lender, so we'll search the market for you to find the best overall deal. Web: WWW.Offshoreonline.ORG, +44 (0)1364 72393 Fax +44 (0) 20 8874 2119, Email: info@offshoreonline.ORG Offshoreonline.ORG is the web site of HR Independent Financial Services Ltd, an appointed representative of Sesame Limited, which is Authorised and regulated by the Financial Services authority. The FSA do not regulate some forms of mortgage. Offshoreonline.ORG Fast Facts 33013 Fast Facts 33245 Fast Facts 33446 than the banks, including forward contracts. A forward contract is a great option if you don't need your money straightaway but want to take advantage of the pound's current strength against the dollar. If you are buying in the US, or even in a region with a currency tied directly to the dollar, such as the Caribbean, a forward contract would allow you to fix a favourable rate for anything up to two years. It's a really useful method of ensuring you don't go over budget. By fixing a rate early on in the process you know exactly what the final cost of your property will be. This is of particular benefit to investors buying off-plan, who will be paying in instalments over a period of months or even years. In between putting down your deposit and making each of your payments the exchange rate will fluctuate and, as a result, money budgeted may not be enough to cover your payments. Taking advantage of a forward contract and locking in the rate when you first pay your deposit will help you to avoid this problem. In addition to settling your initial exchange rate, it's important to consider whether or not there will be a requirement for regular foreign currency transfers. For example, in the case of retirees it is likely that you will be receiving a UK pension. Similarly, if you buy an apartment or villa within a complex you are likely to be liable for maintenance fees. A UK bank will offer 'tourist rates' for these smaller volume transfers, and charge commission and transfer fees. A good foreign exchange specialist will offer far more competitive exchange rates, no transfer fees and no commission. This can add up to considerable savings over time. When it comes to buying property abroad it seems that people haven't cottoned on to the fact that the exchange rate on offer from their bank is not necessarily the best one available. A good exchange rate can make a huge difference to an overseas investment, and can save savvy buyers thousands. Find out more from Currencies Direct though the fast facts number below. When it comes to foreign exchange -- don't bank on it Over 5 million Brits already own a property abroad and, with the immediate threat of a UK housing slump forcing their hands, it looks like investors will continue to consider overseas opportunities. Whatever your reasons for buying a foreign property, it is crucial to get the best deal on the exchange rate to avoid losing valuable pounds when transferring money overseas. A foreign exchange specialist, rather than a high street bank, will offer better rates and could ultimately save you thousands -- money which could be better spent on building work if you are renovating, or even on flights for more visits if you are buying a holiday home. In addition, many foreign exchange specialists do not charge commission or transfer fees and will have agreements in place to negate the receiving fees charged by overseas banks. A specialist will also offer a wider variety of foreign exchange services Mark O'Sullivan, Head of Trading with Currencies Direct, explains the advantages of using a forex broker when juggling currency swaps. Packing up with Atlantic A new website providing help and guidance to people moving abroad has been launched by international removals and shipping company, Atlantic International Movers. The website (www.AIMRelo.co.uk) gives detailed information about shipping options, insurance, storage, packing and moving valuable items, together with fact sheets on customs and import regulations requirements for key destination countries. An online enquiry facility enables people to also obtain a quotation by email for shipping their belongings abroad. UK-based Atlantic specialises exclusively in overseas removals and shipping. Operating from the east and west Midlands, the company regularly relocates people throughout Europe as well as to far-flung destinations around the world including Australia, New Zealand, Canada, South Africa and the United States. Sacrifices by not checking One in two (50%) people renting in the UK don't obtain a written tenancy agreement before moving into their home, putting themselves at the mercy of landlords who are flouting the law, according to new research from AA Legal Services. Landlords are obliged by law to ensure tenancy agreements are signed before tenants move in, yet one in two (50%) tenants say that this is not happening. At a time when many Brits are being priced out of the property market and one in four (25%) are being forced to rent, tenants are also more concerned with the size of the bedrooms (37%) than checking the property's inventory (30%), ensuring repair work is included in the agreement (26%) or asking how the deposit would be retained (22%). As part of its Safe as Houses Campaign, AA Legal Services provides these top tips for renters. Get a written tenancy agreement before moving into a property. Check the inventory and ensure any necessary repair work is included in the contract. Take recordings of any meters the property has, whether gas, electricity or water. Familiarise yourself with the notice period on the property before moving in. Ensure you can afford the financial commitment.
January February 2008